Avinger Inc. (NASDAQ:AVGR) was down 2% on Wednesday . The company traded as low as $11.16 and last traded at $11.47, with a volume of 64,885 shares changing hands. The stock had previously closed at $11.70.

A number of equities research analysts have weighed in on AVGR shares. Canaccord Genuity reaffirmed a “buy” rating and issued a $20.00 target price on shares of Avinger in a report on Monday, March 14th. Zacks Investment Research cut Avinger from a “hold” rating to a “sell” rating in a research note on Monday, May 9th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $18.75.

The company’s 50-day moving average price is $11.36 and its 200 day moving average price is $13.39. The stock’s market capitalization is $145.59 million.

Avinger (NASDAQ:AVGR) last issued its earnings results on Wednesday, May 4th. The medical device company reported ($1.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by $0.11. On average, equities analysts predict that Avinger Inc. will post ($4.22) earnings per share for the current fiscal year.

In other news, major shareholder John B. Ph D. Md Simpson sold 75,111 shares of the business’s stock in a transaction on Friday, April 15th. The shares were sold at an average price of $13.11, for a total transaction of $984,705.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald A. Lucas sold 9,309 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $12.58, for a total transaction of $117,107.22. The disclosure for this sale can be found here.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Thornburg Investment Management Inc. purchased a new position in Avinger during the fourth quarter worth approximately $1,199,000. Timpani Capital Management LLC purchased a new position in Avinger during the fourth quarter worth approximately $1,404,000. EAM Investors LLC raised its position in Avinger by 0.4% in the fourth quarter. EAM Investors LLC now owns 116,261 shares of the medical device company’s stock worth $2,640,000 after buying an additional 457 shares during the period. Morgan Stanley raised its position in Avinger by 248.5% in the fourth quarter. Morgan Stanley now owns 146,866 shares of the medical device company’s stock worth $3,335,000 after buying an additional 104,729 shares during the period. Finally, Paradigm Capital Management Inc. NY raised its position in Avinger by 41.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 367,056 shares of the medical device company’s stock worth $8,336,000 after buying an additional 108,222 shares during the period.

Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses to introduce products based on its lumivascular platform, which is an intravascular image-guided system.

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